MORTGAGES. 2195

An. Code, sec. 1. 1904, sec. 1. 1888, sec. 1. 1825, ch. 203, sec. 2.

1. Every deed conveying real estate or chattels, which by any other
instrument or writing shall appear to have been intended only as a security
in the nature of a mortgage, though it be an absolute conveyance in terms,
shall be considered as a mortgage, and the person for whose benefit such
deed shall be made shall not have any benefit or advantage from the
recording thereof, unless every instrument and writing operating as a
defeasance of the same, or explanatory of its being designed to have the
effect only of a mortgage or conditional deed, be also therewith recorded.

Failure to record defeasance causes beneficiary to lose benefit which recording
would give him over subsequent bona fide purchasers; contra, as to subsequent
grantee with notice. McComas v. Amos, 29 Md. 159.

Although defeasance was not recorded, deed is valid as between the parties, and
equity has jurisdiction to enforce same as a lien in nature of a mortgage. Harrison v.
Morton, 87 Md. 674. See also Owens v. Miller, 29 Md. 159.

This section does not apply to the case of deed absolute upon its face, and where
no other instrument was executed, though deed was intended merely as security.
Ing v. Brown, 3 Md. Ch. 522.

Agreement held not to be a defeasance, and hence, not required to be recorded
under this section. Snowden v. Pitcher, 45 Md. 264. And see Waters v. Riggin,
19 Md. 553.

What is a defeasance? Hoffman v. Gosnell, 75 Md. 588.
Design of this section. Gill v. Griffith, 2 Md. Ch. 286.

This section applied. Waters v. Riggin, 19 Md. 553; Charles v. Claggett, 3 Md. 89.
Act of 1825, ch. 203, held to have no application. Preston v. Leighton, 6 Md. 98.
Cited but not construed in Clabaugh v. Byerly, 7 Gill, 361.

An. Code, sec. 2. 1904, sec. 2. 1888, sec. 2. 1825, ch. 50. 1872, ch. 213. 1882, ch. 471.

1924, ch. 224, sec. 2.

2. No mortgage or deed in the nature of a mortgage shall be a lien or
charge on any estate or property for any other or different principal sum
or sums of money than the principal sum or sums that shall appear on
the face of such mortgage and be specified and recited therein, and par-
ticularly mentioned and expressed to be secured thereby at the time of
executing the same; and no mortgage or deed in the nature of a mortgage
shall be a lien or charge for any sum or sums of money to be loaned or
advanced after the same is executed, except from the time said loan or
advance shall be actually made; and no mortgage to secure future loans or
advances shall be valid unless the amount or amounts of the same and the
times when they are to be made shall be specifically stated in said mortgage;
this not to apply to mortgages to indemnify the mortagee against loss from
being endorser or security, nor to any mortgages given by brewers to mal-
sters to secure the payment to the latter of debts contracted by the former
for malt and other material used in the making of malt liquors; nor are
the provisions hereof intended to apply to deeds of trust in the nature of
mortgages or any other deeds of trust to secure bonds, notes or other
obligations.

Application of this section.

This section held to have no application to a deed of trust for benefit of creditors.
If such a deed were held to be a mortgage, this section would apply. Bank of Com-
merce v. Lanahan, 45 Md. 408.

This section has no application to judgments. Robinson v. Consolidated Real
Estate, etc., Co., 55 Md. 110.